SINGAPORE - Keppel Infrastructure Trust (KIT), formerly known as CitySpring Infrastructure Trust (CIT), has commenced trading on the Singapore Exchange as the enlarged Trust, following the completion of acquisition of Senoko Waste-to-Energy (WTE) Plant, Keppel Seghers Tuas WTE Plant and Keppel Seghers NEWater Plant on Monday (May 18).
According to a press statement from Keppel Corporation, the inclusion of these three assets makes KIT the largest Singapore infrastructure-focused business trust, listed on the Singapore Exchange.
KIT will also undertake its approved acquisition of Keppel Merlimau Cogen Plant (KMC), an operating top tier 1,300 MW gas-fired power plant in Singapore. A
fter the KMC acquisition, which is expected to be completed by 3Q 2015, KIT will have an expected total asset size of over $4 billion.
Mr Khor Un-Hun, CEO of Keppel Infrastructure Fund Management, the Trustee-Manager of KIT, said: "With an enlarged and diversified portfolio, Keppel Infrastructure Trust's ability to offer investors long-term, predictable and sustainable returns is enhanced. Furthermore, with the transactions, the Trust has grown significantly in scale and size, which will strengthen its ability to pursue more meaning growth opportunities."
The enlarged KIT will take on the SGX trading counter name "Kep Infra Tr fka CIT" for an interim period of three months with effect from today.
The counter name will be subsequently changed to "Kep Infra Tr". KIT will also adopt "A7RU" as its SGX ticker code. SGX announcements of KIT will be issued under the security name of "KEPPEL INFRA TRUST WEF 2015".